AIHS - Senmiao makes sequential recovery in orders growth

Senmiao Technology (NASDAQ:AIHS) reported over 1M total completed orders in March 2022, 42% higher than in February. Orders on the online ride-hailing platform had dropped a month earlier due to seasonality driven by the Lunar New Year holiday in China and local resurgence of COVID-19 cases in Senmiao's key cities. Since the launch of the ride-hailing platform in October 2020, Senmiao has recorded ~16M rides, with ~3.8M rides completed on the major platform in partnership with Meituan. The number of drivers completing rides also rose by 18% sequentally to 7,091 in March. Shares are +1.36% pre-market.

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Senmiao makes sequential recovery in orders growth